PAQ Paq Intl

RNS Number:3078Z
Property Acquisition & ManagementLd
30 July 2002

Property Acquisition and Management Limited ("PAM")

Property Acquisition and Management Securities Limited ("PAM Securities")

At the various Class Meetings and Extraordinary General Meetings of PAM and PAM
Securities held today, as set out in the Circular dated 4 July 2002, the
following resolutions were passed:-

 1. To amend the Articles of Association of PAM and PAM Securities to provide 
    for general meetings to be convened on 14 days' notice instead of 21 days'
    notice.

 2. To amend the Articles of Association of PAM and PAM Securities to enable
    shares to be held and transferred using CREST.

The following resolutions were approved by the requisite majorities of ordinary
and convertible redeemable preference shareholders but will not take effect
until passed at an adjourned separate Class Meeting of the zero dividend
preference shareholders, to be held at TSB House, Le Truchot, St Peter Port,
Guernsey, GY1 4AE at 10.20am on 6 August 2002.


 1. To reduce the capital of PAM by redesignating part of the share premium
    account of PAM as a distributable reserve.

 2. To approve the proposed changes to the investment policy of Property
    Acquisition and Management High Income Limited.


Enquiries:

Andrew Duquemin, tel: 01481 731 987

Collins Stewart Fund Management Limited



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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